Advanced IRAs builds on the attendees’ basic knowledge to address more complex IRA issues their financial organizations may handle. This is an advanced session; previous IRA knowledge is assumed. The instructor uses real-world exercises to help participants apply information to job-related situations.
IRA Update
- Explain the recent changes affecting IRA owners.
- Discuss the current Roth modified adjusted growth income limits.
- Recognize how recent changes may affect your financial organization.
Required Minimum Distributions
- Calculate a required minimum distribution (RMD).
- Discuss the RMD rules and reporting requirements.
Beneficiary Options
- Describe beneficiary distribution options.
- Recognize the differences for spouse, nonspouse, and nonperson beneficiaries.
- Explain beneficiary payment deadlines.
Advanced Portability
- Summarize the restrictions on the movement between IRAs.
- Recognize the options available when moving from an employer-sponsored retirement plan to an IRA.
- Explain the result of violating the portability restrictions.
- Roth IRA Conversion Contributions
- Describe a conversion.
- Explain the effect of withholding on a conversion.
- Report a conversion.
- Define the consequences of an ineligible conversion.
IRA Challenge
- Determine whether common industry views on various IRA topics are true.
